The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 5,565 shares of the financial services provider’s stock after selling 69 shares during the quarter. Impax Asset Management Group plc’s holdings in The PNC Financial Services Group were worth $1,073,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. boosted its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 13,662 shares of company stock worth $2,713,745. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $186.55 on Wednesday. The company has a market cap of $74.02 billion, a P/E ratio of 13.57, a PEG ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The business’s 50-day simple moving average is $195.56 and its 200 day simple moving average is $192.21.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.16 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.